Massachusetts' Most Expensive Home, Ever: Is It Worth It?

The luxury property market in Massachusetts just got a whole lot more luxurious.

A nine-acre property on Cohasset Harbor, on Boston's South Shore, was listed this past week for $55 million. While the 20,000 square-foot-mansion, called The Oaks, is pretty spectacular on its own, the reason for the steep price tag is that the property comes with some unusual outbuildings: two restaurants, a marina and a quaint inn. "This is actually four properties that comprise an entire harbor," says Jonathan P. Radford, a vice president at Coldwell Banker, Boston, and the listing agent for the property.

But how many people want to shell out big bucks for a property that also involves running several businesses? "Someone might look at a penthouse and decide to wait, because they will see another penthouse come along," says Radford. "But another New England harbor will not come along anytime soon. The right candidate, when found, will move quickly on this."